BEIJING – China’s Producer Price Index (PPI) rose by 5.5% y/y in December, beating market expectations (4.6%) and mainly driven by a price recovery in coal, steel and non-ferrous metals, whose producer prices rose y/y by 34.0%, 35.0%, and 17.1%, respectively.
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SINGAPORE – Yaacob Ibrahim, Singapore’s Minister for Communications, has provided another glimpse into Singapore’s impending cybersecurity law, saying that a key focus of his Ministry this year will be passage of the new Cybersecurity Act, foreshadowed in 2016 by Prime Minister Lee Hsien Loong.
NEW DELHI - According to the first advance estimates released by the Government, India’s GDP growth slowed to 7.1% y/y in FY2017, but despite demonetisation, the moderation in consumption was less than expected due to strong Government consumption. Nonetheless, ANZ Bank believes consumption growth is likely to be revised downwards in the next update.
Chinese e-commerce is set to grow by 15% by 2020, cementing its position as the biggest e-commerce market worldwide, according to a report issued by Worldpay, a leading payments company with global reach.
BEIJING - Growth in China’s service activity accelerated to its strongest rate in 17 months in December, with companies optimistic about prospects in 2017 on anticipated improvements in market conditions, a survey sponsored by Caixin shows.
HONG KONG - The tough time that Chinese banks are facing, especially in terms of asset quality, is not yet being fully reflected in their profitability, says global asset manager Natixis.
NEW YORK – IBM TODAY unveiled TS annual " IBM 5 in 5 " (#ibm5in5) - a list of ground-breaking scientific innovations with the potential to change the way people work, live, and interact during the next five years.
IBM believes that -
• With Artificial Intelligence, our words will open a window into our mental health;
• Hyperimaging and AI will give us superhero vision;
• Macroscopes will help us understand Earth's complexity in infinite detail;
• Medical labs "on a chip" will serve as health detectives for tracing disease at the nanoscale ; and that
SHANGHAI - The number of initial public offerings on the Shanghai and Shenzhen stock markets is expected to increase rapidly in the current year-and their total value will grow substantially-after 227 took place in 2016, a 3.7% rise from the year earlier, according to PwC.
HONG KONG – The Hong Kong Stock Exchange (HKEX) plans to offer Renminbi (RMB) Currency Options and is aiming to roll out a US dollar/Offshore RMB (USD/CNH) contract in the first quarter of this year, subject to market readiness.
HONG KONG – Global- commodity prices rose further in December, closing out 2016 32% higher over the year, the biggest increase since 2011, according to HSBC. The increase was broad-based, with 23 of the 32 commodities in the HSBC index rising over the year. A retrenchment of supply and pull-back in investment, along with solid growth in demand, had lifted most resource prices, the bank said.
SHANGHAI – In a Client Note on China’s new draft Catalogue for guidance on foreign investment industries, lawyers Baker & McKenzie warn that some investors might argue that proposed changes are more in form than substance.
TAIPEI - S&P Global Ratings has assigned its 'AA-' long-term and 'A-1+' short-term counterparty credit ratings to Taiwan’s Export-Import Bank (EXIM Bank), and describes the outlook on the long-term rating as stable.
SINGAPORE - S&P Global Ratings is continuing to clasify the banking sector of Cambodia in group '9' under its Banking Industry Country Risk Assessment (BICRA), along with Argentina, Azerbaijan, Kenya, Papua New Guinea, Tunisia, Mongolia and Vietnam.
SINGAPORE - Singapore has comfortably dodged a technical recession in Q4 2016, but its economy is expected to remain in slow motion, according to ANZ Bank, which is tipping GDP growth in 2017 to ease to 1.4% from 1.8% in 2016. This is at the lower end of the Government’s 1-3% forecast range.
TAIPEI - The decision by Taiwan's Central Bank of China (CBC) to maintain its benchmark interest rate is expected to see Taiwan enter a rate hiking cycle in 2017, according to an assessment by ANZ Bank. But CBC will cautiously assess the timing of the first interest rate hike, ANZ says.
GENEVA - Unusual trends in international trade statistics, such as the falling value of world trade in goods and services even as the global economy grew in 2015, give cause for concern, said a new UNCTAD report.